Lyon: Downgrade Semiconductor Manufacturing International Corporation (00981) earnings forecast, maintain "outperform market" rating.

13:49 12/02/2026

Consumer electronic products still maintain steady demand, and the company expects that the shortage of memory will ease within 9 to 12 months.

Lyon released a research report stating that they have lowered their profit forecast for Semiconductor Manufacturing International Corporation (00981) for 2026 and 2027 by 14% and 11% respectively, but maintained a target price of 93.3 Hong Kong dollars for H-shares and a "outperform" rating. As for SMIC's A-shares (688981.SH), they continue to have a target price of 152 Chinese yuan and an "outperform" rating. SMIC's performance in the fourth quarter of last year and the first quarter guidance are roughly in line with the bank's expectations. Despite constraints from memory shortages, demand for consumer electronics products remains strong, and the company expects the memory shortage situation to ease within 9 to 12 months. SMIC's capital expenditure for 2026 will be maintained at $8.1 billion, with depreciation expenses increasing by 30% year-on-year.

HK Stock Market Move | Hangzhou Tigermed Consulting (03347) fell more than 5% at the end of the day, with non-GAAP profit declining by more than 40%. Institutions say that the stock price has already reflected the positive factors.

China Galaxy Securities: In January 26th, domestic excavator sales saw a significant increase both domestically and abroad, with demand for European and American construction machinery also showing signs of recovery.

A-share market closing review | Three major indexes collectively rose, computing power remains hot! Leading stocks hit new highs in batches